Hulu announced Tuesday that it added eight million new subscribers last year, bringing its total to 25 million.
That’s a sizable increase for the streaming service, which offers customers a live TV option in addition to its standard on-demand plans.
Still, it’s nowhere close to overcoming Netflix, which had about 58 million subscribers in the US as of last fall.
Hulu vs. Netflix
Netflix and Hulu are among the most well-known subscription streaming services in the US. But there are a couple of important differences between the two.
- Size: Unlike Hulu, Netflix has global reach — and with that, a whopping 137 million total subscribers as of its most recent earnings quarter.
- Revenue: Netflix also has a different revenue model than Hulu because it doesn’t sell advertising. Although the smaller streamer does have an ad-free version, its cheaper plan includes commercials.
But Hulu says its ad strategy is working. The company announced Tuesday that it grew advertising revenue to nearly $1.5 billion in 2018, the most in the service’s history. It also increased its advertiser base by 50%.
Hulu is owned in part by Disney, which will increase its stake to 60% after its deal for most of 21st Century Fox closes. Comcast owns 30%, and AT&T’s WarnerMedia owns the remaining 10%. WarnerMedia is also the parent company of CNN.